The one and only all-new 1968 Ford BULLITT Mustang Fastback will cross the auction block on live national television in prime time on the FYI Cable Network June 24th at Barrett Jackson Las Vegas.
This all-new 670hp supercharged 5.0 Coyote Officially Licensed Brand New Muscle Car 1968 Ford BULLITT Mustang fastback was hand-built from the ground up in 2020 only 1,100 miles ago. This one-of-a-kind build started as an all-metal Ford-licensed body shell with all new parts at the world-famous Brand New Muscle Car facility of MotorTrend TV fame in Tulsa, Okla. Every nut and bolt are brand new. This is not a kit car or special construction vehicle. This beautiful beast is titled and registered as a 1968 Ford Mustang.
“We here at Brand New Muscle Car couldn’t be more proud of all the incredible customer-designed ‘bespoke’ muscle cars and other vehicles we build but this particular Mustang RestoMod should be one of the best looking and best performing cars in the auction this time around,” said company Founder David Miller.
Black Book Market Insights report showed declines continued throughout the entire market last week, with the exception of one segment, Sporty Car, which was up only +0.04%. The rate of decline is starting to outpace what is typical for this time of year when compared to a pre-COVID market.
KAR Auction Services is rebranding to reflect the company’s transformation to a more asset-light, digital marketplace company. OPENLANE signals a new simplified, customer-first approach to used vehicle remarketing.
OPENLANE will serve as both the parent company brand and the go-to-market brand for the company’s digital marketplaces in the U.S., Canada and Europe.
Consolidating platforms, offerings and operations into OPENLANE will help focus the company’s strategy and investments, accelerate innovation and simplify the overall customer experience. The company’s corporate name will change to OPENLANE Inc. effective May 15, 2023. The company’s common stock will continue trading on the New York Stock Exchange under the ticker symbol “KAR.”
“Our vision is to build the world’s greatest digital marketplace for used vehicles, and we are advancing that vision by bringing together all of our sellers, buyers and vehicles under OPENLANE,” said Peter Kelly, CEO. “Over the past decade, we’ve built and acquired some of the leading digital platforms in our industry. Combining the best features and functionality from this technology and unifying our supporting operations will help us create the fastest, easiest and most active digital marketplace available. With flexible sale formats and thousands of cars offered each day—including exclusive, first access to a significant majority of North America’s off-lease inventory—customers will be able to list, bid and buy anytime, anywhere.”
In 2022, the company’s marketplaces facilitated the sale of approximately 1.3 million vehicles, with a gross merchandise value of over $23 billion, across a network of more than 50,000 franchise and independent dealers, OEMs, financial institutions, rental and recovery companies and fleet operators.
The first OPENLANE branded marketplace will be launched in Canada where the company will combine the existing ADESA and TradeRev platforms beginning in June 2023. In the U.S., the company successfully integrated CARWAVE into BacklotCars in 2022 and is currently rolling out the new live-auction format on a national scale. Once completed, the company will focus on integrating its U.S. dealer-to-dealer and off-lease platforms into a new, combined marketplace. And in Europe, the company has completed its consolidation of the ADESA Europe, ADESA UK and GWListe dealer-to-dealer technology into a single, consolidated marketplace that is expected to also adopt the OPENLANE brand.
“KAR catalyzed the digital transformation of remarketing through our acquisition of OPENLANE in 2011. So, it is fitting to anchor the next era of our company—and our industry—on the OPENLANE brand,” Kelly said. “From CPO-ready off-lease cars to higher-mileage older vehicles, to fleet, rentals, recoveries and everything in between, OPENLANE will have the right car for every lot in every geography. And with thousands of unique users engaging on our marketplaces each day, sellers can have confidence they’re receiving the best, most competitive market price available.”
Vann Humphrey has been named general manager of Carolina Auto Auction, one of two auctions in the Stanley-Autenrieth Auction Group. In announcing Humphrey’s promotion to the new post, owner Eric Autenrieth said Humphrey has been involved in the remarketing industry for 25 years and has been a member of Carolina Auto Auction’s management team since 2018.
”I am very pleased to announce that Vann will head the team at Carolina Auto Auction as the new general manager,” said Autenrieth. “His promotion is not only well-deserved, but overdue as he has been handling day-to-day operations at the auction for the better part of the last six months, while I’ve pursued my responsibilities with the NAAA. His level of experience and passion for our auction makes him ideally suited for this role, and we’re confident that the auction will continue to prosper and advance under his watch.”
With Humphrey at the helm at Carolina Auto Auction, Autenrieth will take on the role of CEO of the Stanley-Autenrieth Group. As he oversees both auctions in the group, he will also take on added responsibilities with the NAAA as the president-elect of the organization. He will be installed as NAAA President in the Fall of 2023.
Humphrey’s experience in the remarketing industry began in 1998, when he began working for a non-prime auto lender. During his 20 years there, he rose to senior manager of collateral recovery and vendor-facing compliance. In 2018, he joined Carolina Auto Auction as Assistant General Manager over Operations.